How are contributions to a defined benefit pension entered?
Where to find it: INCOMES → Edit the defined benefit pension
Enter the employment salary in INCOMES before entering the pension. On the pension’s form, select Contributing to this Defined Benefit pension plan and choose the linked salary belonging to the plan member.
Enter your own annual employee contribution, excluding the employer’s contribution. If your pay slip gives a per-pay amount, annualize it. Enter the percentage of salary accrued as an annual pension benefit for each year of service, using the plan formula.
TIME MACHINE uses the linked salary and pension information to project contributions and the pension adjustment affecting new RRSP room. Do not add the same employee contribution again as an expense or automatic saving.
If this is a pension from a former employer and you no longer contribute, clear the contributing selection and leave the salary link at Not contributing. The pension income can remain in the scenario.